News

The Texas Department of Housing & Community Affairs has released several updates for its multifamily housing programs.

The Community Development Financial Institutions (CDFI) Fund has announced they are currently reviewing applications submitted for the 2012 NMTC allocation round, which were due September 12, 2012. The agency estimates that the 2012 awards will be announced in April 2013.

HUD recently released a HOME Investment Partnership (HOME) Program and Low-Income Housing Tax Credit (LIHTC) guidebook which provides technical guidance to HOME Participating Jurisdictions (PJs) on projects that combine HOME Program funds with LIHTCs.

On Monday December 31, 2012, the Senate approved the appointment of Carol J. Galante as the Commissioner of the Federal Housing Administration (FHA) and Assistant Secretary of Housing for HUD by a measure of 69-24, with 18 of the approving votes coming from Senate Republicans.

The Internal Revenue Service (IRS) has released it latest LIHC Newsletter, which provides a forum for networking and sharing information about Section 42, the Low-Income Housing Tax Credit, and communicating technical knowledge and skills, guidance, and assistance for developing LIHTC issues.

NH&RA member firm, CohnReznick LLP recently released a study which examined the operating performance of low-income housing tax credit properties. The report, entitled “The Low-Income Housing Tax Credit Program at Year 25: An Expanded Look at Its Performance”, finds a striking imbalance between the supply and demand of affordable rental housing and confirms the critical shortage that currently exists for affordable housing.

HUD recently released a notice in the Federal Register requesting public comment on the form related to LIHTC tenant information collection.

A new report from the Poverty & Race Research Action Council (PRRAC) entitled “Accessing Opportunity: Affirmative Marketing and Tenant Selection in the LIHTC and Other Housing Programs” examines the accessibility of affordable housing properties for low-income and minority tenants.

The Arizona Department of Housing (ADOH) has released its 2013 Low Income Housing Tax Credit (LIHTC) Application Materials and Exhibits supporting the 2013 Qualified Allocation Plan (QAP).

The Ohio Housing Finance Agency has released its 2013 Affordable Housing Funding Application (AHFA) and supporting materials for applicants of the Low-Income Housing Tax Credit (LIHTC) program, Housing Development Assistance program and the Housing Development Loan program.

Oregon Housing and Community Services (OHCS) released a status update on the Consolidated Funding Cycle (CFC) redesign process. The redesigned CFC is meant to be more efficient and effective process for allocating multi-family housing resources, including the Low-Income Housing Tax Credit and HOME funds.

HUD approved the first round of conversions for public housing units and Section 8 Moderate Rehabilitation (Mod Rehab) units under the first component of the Rental Assistance Demonstration (RAD) program. Under the RAD notice, HUD proposed to approve the conversion of up to 60,000 public housing units and Section 8 Mod Rehab units to Section 8 Project-Based Assistance.